KOP subsidiaries, directors receive writ of summons

Published Mon, May 23, 2016 · 11:42 PM

PROPERTY developer KOP said certain subsidiaries and directors of the company have received a writ of summons from Bachmeer Capital.

Details of the writ were not disclosed.

Bachmeer Capital is an investment vehicle of KOP substantial shareholder Wang Xuan, who was deemed to hold an 8.19 per cent stake in KOP as at June 26, 2015.

KOP said there are no merits to the claims, and the company is currently seeking legal advice to defend the claims. The company said it will make further announcements when there are developments on the matter.

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